Date: Jan 2nd, 2002 Time: 11-00 am.
Job Market analysis for new job seekers
Useful statastics & information which I read from
30 Dec. 2001 Chicago Sun Times- Careers section
The article was like an interview with a president
of Challenger, Gray & Christmas Inc.
(It is the USA's first, oldest and premier
consulting organization, working solely with individuals
sponsored by their former employers.)
Visit http://www.challengergray.com/ for more information.
USA have seen almost 1.8 million job cuts through November 2001.
The U.S. Department of Labor recently reported that USA lost 4,68,000
jobs in October 2001 & 3,31,000 in November 2001. The 2 month losses
were the worst for any 2 months since May-June 1980. Unemployment jumped to
5.7% in November 2001.
Just 1 year ago, USA had the lowest unemployment rate-3.9% - in 30 years.
High tech(telecommunicatios,computers,electronics and e-commerce),
manufacturing(automotive,chemical,steel & durable goods) and travel
(airlines,restaurants,hotels,traveling agencies,convention centers and
resorts) are the hardest hit industries in this down economy.
Which industries are rising even after slow economy & Sept.11 attack?
Health care(there are tremendous shortage of nurses all over USA),
energy, teaching and education,government, mortage banking,construction,
military,defense, law enforcement agencies and securities.
What will be future trend of job seekers?
Balancing work and family lives will gain in priority versus attributes such
as salary,benefits,vacation time and advancement opportunities, and workers
will switch careers if necessary to reach those goals. The road warriors
who spent agreat deal of time traveling for work,flying around and spending
lonely nights at various hotels, may decide that spending time with their
family is more important. More people may also decide that they want to live
closer to their extended families, rather than struggling to the top of
the corporate ladder in a city far from where they grew up.
What will happen to the economy?
The economy will probably get worse before it gets better. The unemployment
rate is still low(5.7%) compared to 10.5%(during recession in 1982).
The next hope for now is second quarter of 2002.
Advice to job seekers
It is more productive to concentrate on sectors that remain healthy than
trying to time the general recovery.
Advice from me now...
Take rest sometime, enjoy your free time...Think something new...
Read a book, novel or magazine which is inspirational....Meet your old
friends, relatives and meet someone new or strange people...
Watch some new TV show which you generally don't see...Surf new
web-sites on internet... and just have fun!!!!
And while having fun, do some small jobs wherever and whenever you can -
no matter how qualified and experienced you are!!!!!!!!Try to work in
some different industry and know more about it....
And hey, if you can't find a job, don't take it personally...It's not
your fault..It's just bad economy..Life has its own cycle of having bad
days and good days......Enjoy your bad days also....and remember the philosophy
of martial art people and body builders - "Pain is Joy"........
Have lots of fun.....
One of my very best room partner "Pranav Raval" has also a suggestion which I missed it -keep in touch with your field.....stay updated, keep reading".